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Hurun report finds sharp increase in number of Indian billionaires

The number of Indian billionaires soared from 59 to 109 over the past 12 months, largely driven by extremely buoyant domestic stock markets that boosted the paper wealth of the country’s super-rich, according to a report published by China-based luxury publishing and events group Hurun.

Industrial baron Mukesh Ambani maintained has status as the richest Indian, with his fortune rising by 37% to INR1.65 lakh crore (€20.9bn), the study estimated. Pharmaceuticals tycoon Dilip Shanghvi came in second, with his net worth surging by 43% to INR1.29 lakh crore, the Hurun Report said.